As venture capitalists (VCs) have an important role in financial start-ups, most studies have focused on venture capital as a short-term source of financing. The authors examine the relation between a VC and an entrepreneur in a multi-period game in which the contract is set at the beginning of...

Research shows that audit fees have increased after the SOX ban on providing non-audit services (NAS) to audit clients, but the reasons behind it have been unclear. Using an auction-modeling approach, this study aims to bridge this gap by providing a theoretical explanation for this empirical...